Centricus, Triller looks to buy TikTok assets for $20 billion

Centricus Asset Management Ltd. and Triller Inc. are seeking to buy TikTok's operations in the US and several other countries from ByteDance Ltd. for $20 billion, according to a person familiar with the matter.

Centricus and Triller submitted their bid to Beijing-based ByteDance, this person said, for TikTok's assets in the U.S., Australia, New Zealand and India. The proposal would be made up of $10 billion in cash up front and $10 billion in profit-sharing from the resulting venture, the person said.

TikTok Chief Executive Officer Kevin Mayer, a high-profile hire who joined ByteDance three months ago, resigned this week, saying the "political environment has sharply changed."